Excelsior completes acquisition of 25 MW solar PV project in California
Excelsior Energy Capital, through its flagship fund, Excelsior Renewable Energy Investment Fund, has closed the acquisition of 100% of Santander Bank, N.A.’s Class A tax equity interests in the 25 MWdc El Centro Solar Project located in El Centro, California.
Mitsubishi HC Capital Inc. and Shikoku Electric Power Co. will invest alongside the Fund to own the asset. The project has a long-term power purchase agreement with an investment-grade public utility and benefits from over 8-years of operating history.
The Fund acquired the Class B cash equity interests in 2019 and plans to implement identified performance upgrades as it seeks to further optimize the project. This transaction is a way for the Fund to deploy follow-on capital into existing investments while streamlining the capital structure. The transaction allows the existing tax equity (Class A) investor to redeploy its capital into new renewable energy projects.
Country updates
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September 29, 2021
PPL Corporation buys ownership interest in 2.1 GW SOO Green Renewable Rail transmission project
PPL Corporation has acquired an ownership interest in the SOO Green HVDC Link (SOO Green) project. SOO Green is a first of its kind underground HVDC transmission line located primarily alo...
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September 29, 2021
East Bay Community Energy commissions 57 MW Scott Haggerty Wind Energy Center in California
Community-governed power supplier East Bay Community Energy (EBCE) has started the commercial operation of the re-powered 57 MW Scott Haggerty Wind Energy Center located in California, USA. ...
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September 29, 2021
TotalEnergies, 174 Power start construction works at 80 MW Gerdau solar photovoltaic project in Texas
174 Power Global, Gerdau Long Steel North America, and TotalEnergies, have begun the construction of the Midlothian, Texas Gerdau Solar project, one of the largest behind-the-meter (BTM) solar facilit...
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September 28, 2021
EGP North America signs 15-MW VPPA with Lululemon for Azure Sky project
Enel Green Power North America, Inc. has signed a virtual power purchase agreement (VPPA) with lululemon athletica inc., allowing the company to achieve its goal of sourcing 100% renewable electricity...
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September 27, 2021
LS Power plans offshore wind connector in New Jersey
Rise Light & Power (Rise), a wholly-owned subsidiary of the LS Power Group, plans to build a new renewable energy hub to deliver offshore wind resources to the electric grid of New Jerse...
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